Taking care of the legal aspects of your business from the start leaves you free to concentrate on winning new customers and delivering what they need. You’ll have the reassurance that there are no unforeseen legal issues lurking around the corner.
Here are our top tips for startup businesses:
1. Don’t put it off
‘Get the business off the ground and worry about the details later’ is an attitude that causes serious problems for countless business owners and partners every year. Dealing with important business matters head on and early on will ensure that you are set up to push the business forwards.
2. Work out your terms and conditions BEFORE your first contract
It is easier to pursue payment when you have clear and legally enforceable terms and conditions. It will also help you to avoid contract disputes when expectations are clear.
3. Employment contracts protect everyone
Have a watertight and legally compliant contract of employment before you hire anyone. Employment tribunals can be complex and expensive if you do not have the right formalities in place from the start.
4. Partnerships don’t always last
A robust partnership agreement will specify what will happen if one partner dies, wants to leave, or if things just don’t work out. Protect your investment and your livelihood, ensuring that you have the right legal paperwork from the start.
5. Details matter for limited companies
The Memorandum and Articles of Association are important documents to get right – alongside the terms and conditions and employment contracts. If you are starting up a limited company it is important that the all details are correct and complete from the outset for the best chance of smooth running and less issues in the future.
6. Leave the ‘boring’ essential stuff to us
The PowellsLaw team makes everything simple with three levels of business start-up pack for: sole traders, partnerships and limited companies. For a fixed price these will get you up, running and protected with the minimum time and effort.
- The sole trader package: T&Cs and a contract of employment.
- The partnership package: T&Cs, employment contract and the partnership agreement.
- The limited company package: everything you need to establish and register your company plus T&Cs and employment contract.
If your needs are slightly more complex we will provide a tailored package of documentation and advice at a competitive cost.
For advice on the matters discussed in this article, give us a call on 01934 623 501 or email email@example.com and we’ll be happy to advise you.